A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.

April 15, 2008

You could get a $500,000 mortgage with no job, no income, no assets...realtors were making money...Casey Serin thought he was gonna get rich...Angelo Mozilo was seen as a captain of industry...George Bush's "ownership society" didn't seem like such a bad idea...Ridiculously low interest rates made the price of anything seem irrelevant...HELOCs had money falling from the sky...Lawrence Yun hadn't destroyed his career...The dollar could buy things...CDO's, SIV's, HELOC's, MBS's, CLO's...Bubble bloggers were "brown shirts", "cassandras", "foolish" and "chicken littles"Home prices were going up...Illegal immigrants were embraced and employed...And homes were get-rich-quick lottery tickets...